Attention first time buyers! I have access to many great programs for you. Some are school district grants, lender gifts, builder programs, city grants / gifts, deferred loans, and incentive subsidies. You generally qualify as a first time home buyer if you have not owned a home for the last three years. If you are interested or know someone who is interested in buying a home, give me a call and I will be glad to tell you about these exciting programs and all the details about them. Thank you!

Hi everyone. Although prices have continued to trickle down this year there are some bright spots in our market. The sales in our region have continued to rise the last several months as I had mentioned in a previous post. This trend was finally published by the media within the last month or so as they got wind of this trend (I saw this trend building way back at the end of last year when I noticed much more competition against my clients' offers). Mostly, turnkey homes or homes that require only cosmetic repairs are going fast and receiving many multiple offers (assuming they are priced well). Investors have been swallowing up many of the major fixers or properties that will not qualify for FHA financing as well. There are lots of cash offers with quick closes which has made it tough for buyers with little money down as sellers are favoring offers will quicker closes and higher deposits rather than just looking at net price.

Good morning. There are a ton of great properties out there that need some updating and / or repairs. The good news for people in search of a fixer home is that a new loan product was released this last week. The loans are rehab loans were you can receive up to $35,000 for repairs on a property and you only need 3% down. This type of loan was available in the past but the program was pulled by most lenders during the initial credit crunch period. These new products can be complicated so please call or email me for more information if you are interested. Have a great day!

Good morning everyone! The last few months were very interesting for our real estate market. Many properties were foreclosed on and then later listed on the market as banks were looking to get the properties off of their books. One interesting trend is that the pending sales index has been rising since November until now. In addition, the inventory of homes for sale has scaled down since November. For the first time in awhile I have encountered many homes (20+) where my clients' had to compete with five to ten other offers. This has happened heavily the last two months in all areas of our region. I think it has to do with prices coming down, buyers feeling it is a good time to make an investment, and people jumping at the good buys in the market. It is still too early to determine if the market is stabilizing. We are sure to see another wave of foreclosures hitting the market at least through the end of the 2008.

As for 2008, I see the market very similar to 2007. There will be lots of foreclosures as many adjustable rates hike up. It will have to be seen as to what effect the governor and the current administration's plan to help those in need and to freeze many of these troubled loans will have on the real estate market. I think it is safe to say this will help the market by slowing down the glut of foreclosures and to keep the inventory down a little. It is also an election year as well. 2008 will be an interesting year and I feel we will reach the bottom of the market as far as prices go. Taking all the variables into account, I think 2008 will be one of the best times to buy if the market follows the historic California trend data. But as we know, there is no way to be 100% sure. One thing I do know is there is a lot of pent up demand out there with thousands of buyers who will need homes in the near future which is a good healthy sign for our local market. Any thoughts anyone? 

As we come to the end of the year the market has continued to be in a down cycle for the year of 2007 as most of you know. Currently rates are good, and prices have come way down. It is definitely a good time to buy and a very tough time to sell.

Foreclosures and short-sales are abundant these days and have been for quite awhile now. Most likely we will continue to see more of them as the mortgage industry cleans itself from all of the loose money given in recent years. With interest rates staying historically low there are many opportunities right now. Whether your a first time buyer, investor, or seller, I can help. Great opportunities include: fixer uppers, foreclosures, high-end housing, fourplexes, and apartment buildings.  

Well there are still many great deals in our region. While in our current market climate I have been able to negotiate good terms and price for all my clients. Most of my buyers and investors have enjoyed the sellers paying all their closing fees in addition to coming down on the selling price. Don't wait too long or you will miss this great opportunity to get what you want! 

There are great builder incentives available when buying a new house right now. Contact me about this information. I can negotiate great terms, prices, and incentives while builders/developers are hurting with excess inventory.

For everyone looking to buy while this great buyer's market is here in our region. Hopefully interest rates do not spike up for awhile. This last month we have seen rate hikes on several occasions.